WVU, IMG agree on $80M deal
MORGANTOWN – West Virginia University officials announced today a broad partnership with IMG College designed to bring new national and corporate support and brand recognition to the University’s athletic program. The agreement is effective with the 2013-14 academic year.
The 12-year agreement, guaranteed to pay to WVU more than $80 million over 12 years, plus revenue-sharing opportunities over the length of the partnership, includes management of local game broadcasts and coaches’ shows for radio and television; publications such as media guides and schedules; digital platforms including social media and web sites; corporate sponsorships; at-event promotions and game day hospitality; stadium and venue signage including scoreboards and ribbon boards; and advertising in university-owned and leased athletic facilities.
WVU retains some existing sponsorships with corporate entities such as athletic apparel and footwear, health care, financial services and pouring rights.
“It was time for WVU Athletics to grow our multimedia and sponsorship sales, especially with our recent move to the Big 12 Conference,” said Director of Athletics Oliver Luck. “With the resources, services and proven track record that IMG College brings, WVU now has the opportunity to expand its revenue base by engaging new national sponsors while building our athletic and university brand. I’m extremely pleased with this move.”
“West Virginia athletics under the direction of Oliver Luck has done a great job building its corporate partner program, and we’re thrilled to add our resources to expand on these efforts,” said Ben Sutton, president of IMG College. “West Virginia is one of last major schools to handle multimedia and sponsorship sales in house. The university’s decision to entrust IMG to grow its sponsor and revenue base while building the school brand continues to validate IMG’s collegiate services and burgeoning national marketing platform.”
WVU joins several other Big 12 schools which have partnerships with IMG College, including Baylor, Kansas, TCU and Texas. IMG currently represents more than 90 universities nationwide as well as the NCAA and its 88 championships.
Under the contract, IMG will identify a dedicated team to be based in Morgantown.
Also, radio broadcasts will move to IMG Audio, the largest independent radio network in the U.S. IMG will partner with West Virginia Media Holdings to develop television inventory, including coaches shows and other ancillary TV programming to be determined.